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A colt by champion stallion Snitzel out of a sister to Caulfield Cup winner Admire Rakti was the standout performer on Tuesday's opening day of this year's Adelaide Magic Millions Yearling Sale.

The only product of the four-time Australian Champion Stallion in the sale was sold to Tony Fung for $300,000.

The colt was produced for sale by Collingrove Stud on behalf of Arrowfield and Collingrove's Dan Brash was thrilled him to see him stand out on a $10 million day.

"We knew that he was going to be one of the standout colts here and he's been placed to advantage," Brash said.

"I always believe it's best to place these horses in the top 10 percent of the sale and he was definitely extremely well-placed here and he's been extremely popular all week.

"He was a great colt to prepare, he had a great constitution, he just handled the preparation so well and it's a great result for some great clients in Arrowfield Stud."

The colt is the first foal from Japanese 2000m winner Cross Amulet, who like 2014 Caulfield Cup winner Admire Rakti is by Heart's Cry out of the Helissio mare Admire Teresa.

He was the show-stopper on a day that saw Russian Revolution produce four of the next highest-priced lots of the sale.

His colt out of New Zealand Group 3 winner Let Her Rip sold to Mark Kavanagh for $180,000, while the Newgate stallion also had three of the day's four $160,000 lots.

Kavanagh also bought the filly from the family of Terravista and Tiger Tees, Darby Racing snapped up a colt from British mare Hidden Gem, while Trilogy Racing and David Jolly teamed up to the buy the colt from the Rip Van Winkle mare Lasarla.

Trilogy was also involved in the other $160,000 lot, a filly by Toronado who is a half-sister to Precious Gem that they purchased in partnership with Will Clarken.

At the fall of hammer of the last lot of Day 1, $10,084,000 had changed hands at an average of $60,747 with a $46,000 median and 80 percent clearance rate.

They compare favourably with last year when Day 1 grossed $9,149,500 at an average of $55,790 with a $40,000 median.